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Business
Traders, mechanics pay N167bn, decry multiple taxation
Nigerians engaged in wholesale and retail trade and repair of motor vehicles and motorcycles paid a total…
28 states attracted no foreign investment in Q1, says NBS
28 states failed to attract capital importation in the first quarter of 2023, according to the new Foreign Direct Investment data released by the National Bureau of Statistics. Out of the 36 states and the…
DANGOTE GRANITE MINES OFFERS SCHOLARSHIPS TO HOST COMMUNITIES STUDENTS
…Promises automatic employment for exemplary ones It was an atmosphere of excitement at the weekend as Dangote…
Despite reforms, we can’t breathe – Business owners tell Tinubu
• Stakeholders’ Engagement Critical For Manufacturing Sector’s Survival — Yusuf • ‘Recapitalise BoI, BoA…
First Bank Major Shareholders Resist Otudeko’s Attempt To Regain Control
Major shareholders of FBN Holdings, the parent company of First Bank of Nigeria are said to be against the move by…
Femi Otedola Loses Top Shareholder Spot at FBN Holdings
Billionaire businessman, Femi Otedola is no longer the highest shareholder in FBN Holdings. With this, Otedola, the chairman of Geregu Power, yielded the top spot to Barbican Capital Limited. Barbican Capital Limited is…
Paloma Picasso takes over late father’s estate
Paloma Ruiz-Picasso, the last of Pablo Picasso’s four children, has been appointed administrator of the estate managing rights linked to the artist and his work, replacing her brother Claude, their lawyer has told AFP.…
Tokunbo vehicle sales drop by 70%, buyers opt for Nigerian-used cars
The recent 40 per cent hike in the exchange rate for cargo clearance at the seaports and the increase in tariff on imported cars by a terminal operator, Ports & Terminal Multipurpose Limited, has led to about 70…
Access Holding GMD, Herbert Wigwe’s shares net N11.3 billion in 12 days
Dr. Herbet Wigwe, the Group Managing Director and co-founder of Access Holdings, Nigeria’s largest bank holding company has experienced a significant increase in his wealth, gaining an estimated N11.3 billion…
OFFICIAL: Barbican Capital Limited has acquired 13.3% of FBN Holdings
As earlier reported by Nairametrics, Barbican Capital has acquired 4,770,269,843 units of FBN Holdings, giving it a 13.3% stake in one of Nigeria’s oldest banks. This was confirmed via a press…
Nigerian manufacturers opposes $155m contract for importation of electricity meters
Association of Meter Manufacturers and Assemblers Nigeria (AMMON) has advised the Federal Government to halt attempts by Transmission Company of Nigeria (TCN) to allow foreign campaigns to bid for manufacturing of…
World’s richest woman, Meyer’s net worth hits $92.6B
French businesswoman and the world’s richest woman, Francoise Bettencourt Meyers, has seen a slight increase in her net worth. According to data from Bloomberg and the Forbes Billionaire Index, the 69-year-old…
Davido’s ‘Timeless’ album rakes in N2 billion in just 3 months from online streams
In recent months, the Nigerian music industry has witnessed an extraordinary surge on the global entertainment stage. During this period, Davido, a Nigerian musician, unleashed the undeniable hit of the…
Oba Otudeko behind 4.5 billion FBNH shares transfer
Former chairman of FBN Holdings, Oba Otudeko is reported to be behind the over four billion shares of FBNH that were transacted on the NGX on Thursday, July 6th, 2023. Nairametrics confirmed this from traders on…
This Rolls-Royce electric car is priced at N323 million
Luxury car brand Rolls-Royce has introduced its electric car model, the Spectre, which comes with a price tag of N323 million ($420,000) After years of experimentation since 2010, the Spectre marks Rolls-Royce’s…
Twitter threatens Threads lawsuit against Meta
Twitter has threatened to sue Meta Platforms (META.O) over its new Threads platform in a letter sent to the Facebook parent's CEO Mark Zuckerberg by Twitter's lawyer Alex Spiro. Meta, which launched Threads on…
Banks Raise ATM Cash Withdrawal Limit To N200,000
Months after banks restricted withdrawals on automated teller machines (ATMs), commercial banks in the country are beginning…
Naira windfall for oil firms as CBN lifts dollar restrictions
International Oil Companies (IOCs) in Nigeria will get more naira for their dollar earnings after the Central Bank…
Output cut from Russia, Saudi to boost Nigeria’s oil income
The oil revenue of Nigeria is expected to rise on the back of Saudi Arabia and Russia’s planned…
More trouble for importers as Customs adjusts exchange rate to N770.88/$
Less than two weeks after the Nigeria Customs Service (NCS) adjusted the exchange rate for cargo clearing…
Tinubu eases throttle on taxes
President Bola Tinubu has put the brakes on the implementation of some of the tax changes made by his predecessor,…
FMDQ acquires 2 billion shares of CSCS
FMDQ has acquired about 2 billion shares or CSCS Nairametrics can confirm. The trades were consummated at a share price of N18 per share and traded on the NASD. The deal has been two years in making since it was first…
Oil companies resume dollar sales to banks as CBN eyes supply
The Central Bank of Nigeria (CBN) has permitted International Oil Companies (IOCs) to resume the sale of US dollars to banks…
Otedola reveals how his reliable CEO, Akin Akinfemiwa saved his business
During Geregu CEO Akin Akinfemiwa’s 50th birthday celebration in London on Tuesday, Femi Otedola, the billionaire and business magnate, unveiled the remarkable role played by Akinfemiwa in saving his business.…